Prices Still Increasing Very Fast for Low and Middle Priced Phoenix Homes

Prices for the low and middle tier priced Phoenix homes continued to increase rapidly in October even though it’s common for prices to fall a bit in October. Going against the typical seasonality means we have a very strong upward trend in Phoenix home prices in these price ranges.

Prices for the high tier continued to increase but at a much slower rate than earlier in the year.

Phoenix AZ Case-Shiller Home Price Index

The Case-Shiller Home Price Index is the best estimate of actual home price appreciation (or depreciation). The downside to the Case-Shiller Index, however, is that it runs a little old, the most current data is only through October 2012.

Call me if you plan to sell your home and you want to know what this all means for you. John Wake, HomeSmart, (480) 600-0947